The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2619 Sales 5 216,666 Costs 155,666 EBIT $ 55,666 Interest expense 11,666 Taxable income $ 44,666 Taxes (at 21%) 9,246 Net income $ 34,766 Dividends $ 17,386 Addition to retained earnings 5 17,386 BALANCE SHEET, YEAR-END, 2619 Assets Liabilities Current assets Current liabilities Cash $ 4,666 Accounts payable $ 11,666 Accounts receivable 9,666 Total current liabilities $ 11,666 Inventories 27,666 Long-term debt 116,666 Total current assets $ 46,666 Stockholders' equity Net plant and equipment 156,666 Common stock plus additional paid-in capital 15,666 Retained earnings 54,666 Total assets $ 196,666 Total liabilities plus stockholders' equity $ 196,666 Sales and costs are projected to grow at 20% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at 75% capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain a dividend payout ratio of 0.50. What is the required external financing over the next year